The company was founded in 1987 by investment brothers Reino and Yrjö Laakkonen with a one million Finnish mark starting capital.
The emphasis of the company has moved from trading in securities to real estates in the 1990s, when the first notable real estate purchases were made. The balance grew in ten years to approx. € 17 million.
The company acquired notable ownerships of block nr. 29 in the centre of Joensuu between the end of the 1990s and the beginning of the 21st century. A notable 44,000 brm² construction project was started on the block. The project was executed by a subsidiary, which was 100% owned by the company. Shopping Centre Iso Myy, among others, was built on the block, Pohjois-Karjalan Arvopaperi Oy owns 67% of its commercial premises.
In addition, the company has renovated the hotel real estates for the Cumulus hotel chain in Kouvola and Mikkeli. The new hotel premises were also finished in Joensuu in the summer of 2009.
The shopping centre which was in connection with the hotel property of Mikkeli was connected to the Akseli shopping centre, which was opened in 2010, and consists of the entire block.
The new Shopping centre Iisa was opened in Iisalmi in 2011.
Ultivista Oy bought Yrjö Laakkonen’s share of the company in the summer of 2008, when it became a part of Ultivista Group.
The company continues accordingly with its traditions, with sustained real estate ownerships on a solid private ownership base, with an approx. € 90 million group balance.